Using the table, what is the average daily balance of the credit card for the August 1 through August 31 billing period? Round your answer to the nearest dollar. Provide your answer below: Day Activity Adjustment Closing Balance 1 950 8 Payment -400 550 16 Purchase +250 800 24 Purchase +100 900

Using the table, what is the average daily balance of the credit card for the August 1 through August 31 billing period? Round your answer to the nearest dollar. Provide your answer below: Day Activity Adjustment Closing Balance 1 950 8 Payment -400 550 16 Purchase +250 800 24 Purchase +100 900

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 8EB: Using the following select financial statement information from Mover Supply Depot, compute the...

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Question

Using the table, what is the average daily balance of the credit card for the August 1 through August 31
billing period? Round your answer to the nearest dollar.
Provide your answer below:
Day
Activity Adjustment Closing Balance
1
950
8
Payment
-400
550
16
Purchase
+250
800
24
Purchase
+100
900

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